Industry

Industry

Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...

in the sense of professional

Professional

A professional is a person who is paid to undertake a specialised set of tasks and to complete them for a fee. The traditional professions were doctors, lawyers, clergymen, and commissioned military officers. Today, the term is applied to estate agents, surveyors , environmental scientists,...

 manufacturing

Manufacturing

Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...

 has existed for millennia, since the first cities rose.

Cottage industry

A cottage industry (also called the Domestic system) is an industry – primarily manufacturing – which includes many producers, working from their homes, typically part time. The term originally referred to homeworkers who were engaged in a task such as sewing or lace-making. Some industries which are usually operated from large centralized factories were cottage industries before the Industrial Revolution. The business operators would travel around, buying raw materials, delivering it to people who would work on them, and then collecting the finished goods to sell, or typically to ship to another market. One of the factors which allowed the industrial revolution to take place in Western Europe was the presence of these business people who had the ability to expand the scale of their operations. Cottage industries were very common in the time when a large proportion of the population was engaged in agriculture, because the farmers (and their families) often had both the time and the desire to earn additional income during the part of the year (Winter) when there was little farming work to do.

Guilds

A development of pre-industrialized societies, guilds were associations of artisans within the same trade. In Europe during the middle ages

Middle Ages

The Middle Ages is a periodization of European history from the 5th century to the 15th century. The Middle Ages follows the fall of the Western Roman Empire in 476 and precedes the Early Modern Era. It is the middle period of a three-period division of Western history: Classic, Medieval and Modern...

, guilds provided a powerful influence on the political systems within towns and cities. New guild members were required to study under a master of the craft as an apprentice

Apprenticeship

Apprenticeship is a system of training a new generation of practitioners of a skill. Apprentices or protégés build their careers from apprenticeships...

, then spent a period of time as a journeyman

Journeyman

A journeyman is someone who completed an apprenticeship and was fully educated in a trade or craft, but not yet a master. To become a master, a journeyman had to submit a master work piece to a guild for evaluation and be admitted to the guild as a master....

 before becoming a master craftsman.

Medieval guilds held a monopoly of trade within the town in which they operated. During the eighteenth century, however, guilds came under increasing criticism for hindering free trade

Free trade

Under a free trade policy, prices emerge from supply and demand, and are the sole determinant of resource allocation. 'Free' trade differs from other forms of trade policy where the allocation of goods and services among trading countries are determined by price strategies that may differ from...

and technological development and transfer. However the guild system still continues to operate in some parts of the economy to this day.

Post-industrialism